Director Dealings5 Nov 2022 09:39
It’s this time of year… Surly the price needs to be higher for this to be credible??? Only the BOD know what’s coming?
Wed, 3rd Nov 2021 15:00
RNS Number : 2516R
Sareum Holdings PLC
03 November 2021
Sareum Holdings PLC
("Sareum" or the "Company")
Exercise of Share Options and Director Dealings
Cambridge, UK, 3 November 2021 - Sareum Holdings plc (AIM: SAR), the specialist drug development company delivering targeted small molecule therapeutics to improve the treatment of cancer and autoimmune diseases, announces the following share transactions carried out by certain Directors.
On 3 November 2021, Dr Tim Mitchell (Chief Executive Officer) and Dr John Reader (Chief Scientific Officer) each exercised options over 2,566,666 ordinary shares of 0.025 pence each ("New Ordinary Shares") in the Company (the "Options"), at an exercise price of 1.2 pence per share, for an aggregate consideration of £61,600.
The Options were granted on 13 March 2012, under the Sareum Holdings plc Enterprise Management Incentives Option Agreement, as a key part of the Company's long-term incentive scheme to retain key talent in the business. The Options were due to lapse on 12 March 2022.
Following the exercise of the Options, on 3 November 2021, Dr Mitchell and Dr Reader each agreed to sell all 2,566,666 of the New Ordinary Shares at a price of 6.0 pence per share (the "Share Sale").
Application has been made to the London Stock Exchange for the 5,133,332 new Ordinary Shares to be admitted to trading on AIM ("Admission") and it is expected that Admission will become effective, and trading will commence at 8.00 a.m. on 10 November 2021.
Following Admission, the total number of Ordinary Shares in issue will be 3,370,834,480 and the total number of voting rights will therefore be 3,370,834,480. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.
Following the Option exercise and Share Sale, Dr Mitchell's and Dr Reader's resultant interests in the Company will be: